For Buyers: Owning a Condo

1. Common Ways of Holding Title
2. Living Trusts
3. Mello_Roos
4. Condominium and PUD Ownership
5. Mechanic's Liens
6. Understanding Foreclosures
7. Environmental Issues
8. Lead Poisoning

Environmental Issues

When purchasing a piece of property, it is important to be aware of any environmental liabilities associated with it. For example, you should find out if there are any registered underground tanks within several miles of the property, any known contaminated properties in the neighborhood, or any property owners who have been fined by the government for failing to meet environmental safety standards.

Before, it took a costly site investigation for the information, but now there are online environmental databases available at a fraction of the cost. Anyone can access reports on otherwise hard to detect environmental issues. With these databases, it is possible to obtain a listing of hazards near a property, or spills and violations attributed to businesses nearby.

Article by CLTA

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